NEW YORK, Aug. 29, 2023 /PRNewswire/ — The cochlear implants market to grow by USD 811.6 million at a CAGR of 8.62% from 2022 to 2027, according to the latest research report from Technavio. Discover Health Care Equipment industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!
Company Landscape
The global cochlear implants market is fragmented, with many international players such as Cochlear, Sonova and MED EL providing hearing aids with high functionality and compact designs. With growing advances in technology and product innovation, the competition in the market is intensifying. The cochlear implant market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Company Offerings
- Amplifon SpA – The company offers cochlear implants under the subsidiary GAES.
- Cochlear Ltd. – The company offers cochlear implants such as the Nucleus system.
- Envoy Medical Corp. – The company offers cochlear implants such as Acclaim.
For market’s vendor landscape highlights with a comprehensive list of vendors and their offerings – View Sample in minutes
Key Market Segmentation
This cochlear implants market report extensively covers market segmentation by end-user (adult and pediatric), product (unilateral and bilateral), and geography (North America, Europe, Asia, and Rest of World (ROW)).
- The unilateral segment will be significant during the forecast period. This segment involves the implantation of a cochlear implant in one ear and although bilateral implantation offers benefits, personal preference or significant residual hearing in the non-implanted ear are factors increasing the adoption of unilateral implantation. For instance, in the Netherlands, adults with eligibility for cochlear implantation generally receive reimbursement only for one cochlear implant. Hence, such factors fuel the unilateral segment during the forecast period.
View Sample Report in minutes for more highlights into the market segments.
Regional Market Outlook
- North America will contribute 35% to the growth of the global market during the forecast period. The growth of the regional market is attributed to the availability of favorable reimbursements; the introduction of innovative and advanced products; and the growing adoption of such products. Additionally, growing initiatives to improve awareness, the expansion of field sales organizations and direct-to-consumer (DTC) marketing, and enhanced sales-force effectiveness are also boosting the market growth in the region. Hence, such factors fuel the regional market growth during the forecast period.
For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report
What’s New? –
- Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!
Companies Mentioned
- Amplifon SpA
- Cochlear Ltd.
- Envoy Medical Corp.
- iotaMotion Inc.
- MED EL Elektromedizinische Gerate GmbH
- Medtronic Plc
- Neubio AG
- Olympus Corp.
- Oticon Medical AS
- Ototronix LLC
- Shanghai Lishengte Medical Technology Co. Ltd.
- Sonova AG
- Starkey Laboratories Inc.
- The Cochlear Implant Group India
- TODOC Co. Ltd.
- ZHEJIANG NUROTRON BIOTECHNOLOGY CO. LTD.
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
The ocular implants market size is expected to increase by USD 1.82 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.26%.
The nasal implants market size is expected to increase to USD 312.05 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.26%.
Cochlear Implants Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.62% |
Market growth 2023-2027 |
USD 811.6 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.84 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Mexico, Germany, France, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amplifon SpA, Cochlear Ltd., Envoy Medical Corp., iotaMotion Inc., MED EL Elektromedizinische Gerate GmbH, Medtronic Plc, Neubio AG, Olympus Corp., Oticon Medical AS, Ototronix LLC, Shanghai Lishengte Medical Technology Co. Ltd., Sonova AG, Starkey Laboratories Inc., The Cochlear Implant Group India, TODOC Co. Ltd., and ZHEJIANG NUROTRON BIOTECHNOLOGY CO. LTD. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/cochlear-implants-market-to-grow-by-usd-811-6-million-from-2022-to-2027–technavio-301911902.html
SOURCE Technavio
Featured image: Depositphotos © alpha spirit